Verdence Capital Advisors LLC Has $217,000 Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Verdence Capital Advisors LLC cut its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 4.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,007 shares of the medical equipment provider’s stock after selling 102 shares during the period. Verdence Capital Advisors LLC’s holdings in Zimmer Biomet were worth $217,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rovin Capital UT ADV lifted its position in shares of Zimmer Biomet by 19.1% in the third quarter. Rovin Capital UT ADV now owns 6,426 shares of the medical equipment provider’s stock valued at $694,000 after buying an additional 1,029 shares during the last quarter. Philip James Wealth Mangement LLC acquired a new stake in Zimmer Biomet during the 3rd quarter valued at $305,000. Sittner & Nelson LLC boosted its position in Zimmer Biomet by 62.4% during the third quarter. Sittner & Nelson LLC now owns 2,085 shares of the medical equipment provider’s stock worth $225,000 after purchasing an additional 801 shares during the period. Olstein Capital Management L.P. raised its position in shares of Zimmer Biomet by 3.4% in the third quarter. Olstein Capital Management L.P. now owns 80,000 shares of the medical equipment provider’s stock valued at $8,636,000 after purchasing an additional 2,600 shares during the period. Finally, Graypoint LLC lifted its stake in shares of Zimmer Biomet by 6.6% during the 3rd quarter. Graypoint LLC now owns 4,829 shares of the medical equipment provider’s stock worth $521,000 after buying an additional 299 shares during the last quarter. 88.89% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on ZBH. Wells Fargo & Company raised their price objective on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Evercore ISI reduced their price target on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st. TD Cowen dropped their target price on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a report on Friday, September 6th. Oppenheimer decreased their price target on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Finally, Wolfe Research assumed coverage on shares of Zimmer Biomet in a report on Tuesday, September 10th. They issued a “peer perform” rating for the company. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Zimmer Biomet presently has an average rating of “Hold” and a consensus target price of $124.11.

Zimmer Biomet Price Performance

ZBH stock opened at $109.95 on Wednesday. The stock has a market cap of $21.89 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 1.99 and a beta of 1.02. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. The company has a 50 day simple moving average of $106.26 and a 200 day simple moving average of $110.25. Zimmer Biomet Holdings, Inc. has a 1 year low of $101.47 and a 1 year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, meeting analysts’ consensus estimates of $1.74. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. Zimmer Biomet’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.65 EPS. Research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is currently 18.25%.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.